Connect with us

Venture Capital

Bravura sees earnings surge

earningsBravura achieved earnings before interest, tax, depreciation and amortisation of $57 million, up 19% from $48 million in the 2019 financial year.

Avatar

Published

on

The acquisition of financial planning technology group Midwinter helped the wealth management software provider boost its earnings by 19 per cent over the 2020 financial year.

In a statement released to the market on Wednesday, Bravura said it had achieved earnings before interest, tax, depreciation and amortisation of $57.8 million, up 19 per cent from $48.6 million in the 2019 financial year.

The group’s net profit after tax also rose 22 per cent to $40.1 million over the 12 months, with the acquisitions of Midwinter and fintech group FinoComp adding $3 million to Bravura’s bottom line.

However, licence fees across the company’s wealth management arm were down to $7.9 million from $10.4 million the previous financial year, contributing to a 2 per cent decline in earnings for the wealth management business over the 12 months.

The group said its sales pipeline had been impacted by “the uncertainty arising from COVID-19”, which had “resulted in a lengthening of the sales cycle”.

However, Bravura said the crisis would be beneficial for the business in the long term by accelerating adoption of technology solutions among advice firms.

Source: https://australianfintech.com.au/bravura-sees-earnings-surge/

Private Equity

Olive Tree Ventures reveals rebrand, Asia push amid $170m fund close

Digital health-focused VC firm Olive Tree Ventures has hit a $170m final close for its latest fundraise amid the firm rebranding itself to OTV.

Avatar

Published

on

Digital health-focused VC firm Olive Tree Ventures has hit a $170m final close for its latest fundraise amid the firm re

Source: https://www.altassets.net/private-equity-news/by-news-type/people-news/olive-tree-ventures-reveals-rebrand-asia-push-amid-170m-fund-close.html

Continue Reading

Venture Capital

Giving Broadly

My friend Dana Cowin did what many us have done during the pandemic….up her cooking game and support businesses as the same time. She began creating meals with flavors from Somalia, Thailand, Vietnam, Mexico, and more. The editor in her has never left (she was the Editor-in-Chief at Food & Wine for 21 years) and […]

The post Giving Broadly appeared first on Gotham Gal.

Avatar

Published

on

My friend Dana Cowin did what many us have done during the pandemic….up her cooking game and support businesses as the same time. She began creating meals with flavors from Somalia, Thailand, Vietnam, Mexico, and more.

The editor in her has never left (she was the Editor-in-Chief at Food & Wine for 21 years) and before she knew it she was sourcing ideas, finding new products, writing about each of these women and building a website called Giving Broadly.

You can now read about 40 women from Azalina Eusope and buy her Malaysian peanut sauce and coconut jam or Krissy Scommenga and buy her magical Medonico dried peppers. I plan on taking a serious deep dive and read up on all these women and buy their products for the months ahead. My guess is this will continue to grow.

As for Dana, check out her podcastSpeaking Broadly, for inspiration on life, career and beyond, on Heritage Radio, iTunesStitcher & Podcasts.com

Source: https://gothamgal.com/2020/12/giving-broadly/?utm_source=rss&utm_medium=rss&utm_campaign=giving-broadly

Continue Reading

Private Equity

Lending, credit and financial planning app Updraft seals £16m equity and debt investment

Lending, credit monitoring and financial planning app Updraft has scored a £16m equity and debt funding round.

Avatar

Published

on

Lending, credit monitoring and financial planning app Updraft has scored a £16m equity and debt funding round.

The company is the brainchild of CEO Aseem Munshi, the former head of cards and unsecured lending for HSBC in the UK.

Updraft, which has launched onto the Apple App Store, aims to prevent consumers drifting into borrowing more and more each month without noticing. It estimates that consumers will pay over £10bn in fees and interests for overdraft and credit cards in 2020 alone.

The UK government’s Future Fund is providing equity in the form of convertible loan notes, while specialist investor Quilam Capital is leading on the debt side.

Using open banking and credit report data, Updraft aims to build a complete picture of a user’s spending and borrowing, and provides interventions designed to lift the consumer back into the black.

Where expensive borrowing is detected, users can get ‘Updraft Credit’ to pay off these high-interest-rate debts with a lower-cost loan, potentially saving them thousands of pounds in charges.

More than 40,000 people joined the waitlist for the FCA-approved service and 15,000 were granted early access to beta test Updraft throughout 2020.

The company says it has already refinanced millions of pounds of borrowings using its own balance sheet, and claims a typical Updraft member has been able to reduce their borrowing charges by up to 50%.

Quilam Capital director Sarah Watts said, “Over the years we’ve seen innovators making use of open banking, shed light on financial health and provide credit, however Updraft provides a truly unique offering across all of these aspects with a market leading solution to give customers the fairly priced credit they deserve.

“We’re delighted to invest in Updraft and support the business on their mission to give consumers the tools to save and reach their life goals faster.”

Copyright © 2020 AltAssets

Source: https://www.altassets.net/private-equity-news/by-news-type/deal-news/lending-credit-and-financial-planning-app-updraft-seals-16m-equity-and-debt-investment.html

Continue Reading
Blockchain2 mins ago

Bitcoin’s Halving May Not Pump Price Like Last Time – Here’s Why It Doesn’t Matter

Blockchain2 mins ago

What Are “Crypto/Digital Assets” and How Can They Be Taxed?

Blockchain2 mins ago

The Most Common Types Of Cryptocurrency Scams in 2020

Blockchain4 mins ago

Brexit Party Leader Calls Bitcoin “Ultimate Anti-Lockdown Investment”

Blockchain5 mins ago

Blockchain5 mins ago

Blockchain5 mins ago

Blockchain5 mins ago

Blockchain5 mins ago

Blockchain6 mins ago

Blockchain6 mins ago

Blockchain6 mins ago

Blockchain6 mins ago

Blockchain6 mins ago

Private Equity7 mins ago

Beazy U.G. – HRB204648B – 01042023

Blockchain9 mins ago

Bitcoin und Gold mit Golden Cross – Rallye jetzt erst recht?

Saas9 mins ago

Saas9 mins ago

Saas9 mins ago

Saas9 mins ago

Saas9 mins ago

Saas9 mins ago

Saas9 mins ago

Saas9 mins ago

Saas9 mins ago

Saas9 mins ago

Blockchain16 mins ago

Bitcoin is the ‘ultimate anti-lockdown investment,’ says Nigel Farage

Private Equity21 mins ago

CVC to acquire RiverStone Europe for $750m

Blockchain29 mins ago

MetaMask csalás – hamis oldalakon csalják ki a kriptótárcákról a pénzt

Blockchain31 mins ago

Polkadot Retrieves to Trading Above $5 and Grows Over 20%

Blockchain33 mins ago

AMPL expands beyond Ethereum to launch on TRON, Polkadot, NEAR

Blockchain33 mins ago

Visa Embraces USDC as U.S. Congressional Officials Take Aim at Stablecoins

Press Releases33 mins ago

EVERSANA y ArisGlobal anuncian una alianza estratégica para transformar la automatización de seguridad farmacológica

Press Releases41 mins ago

Notice of Extraordinary General Meeting in Haldex Aktiebolag (publ)

Blockchain43 mins ago

Grayscale set to split its Ethereum Trust Fund shares

Press Releases44 mins ago

Intelligente Automation von Blue Prism jetzt in AWS Marketplace verfügbar

Private Equity45 mins ago

Pennsylvania Pension details the costs of private equity investing

Blockchain46 mins ago

Bitcoin network sees record-breaking user activity

Private Equity48 mins ago

Olive Tree Ventures reveals rebrand, Asia push amid $170m fund close

Press Releases48 mins ago

José Mourinho wins Web Summit Innovation in Sport award, reflects on his legacy

Trending